Second Quarter Financial Report Card – Report on Gilead Sciences
NEW YORK, September 17, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Gilead Sciences Inc. (NASDAQ: GILD). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=GILD
Highlights from our GILD Report include:
- Second Quarter and Six Months Results - On July 28, 2015, Gilead Sciences, Inc. announced its financial results for the second quarter and first half of 2015. The Company reported total revenues amounting to $8.2 billion during the second quarter vis-à-vis reported total revenues of $6.5 billion in Q2 FY14. Net income attributable to Gilead amounted to $4.5 billion in Q2 FY15 as compared to net income of $3.7 billion in the prior year period. For the six-month period, the Company reported total revenues amounting to $15.8 billion vis-à-vis previous year figure of $11.5 billion. Net income attributable to Gilead for H1 FY15 was $8.8 billion versus $5.9 billion reported by the Company in the prior year period.
- Operating Performances - Gilead's total product sales for Q2 FY15 were $8.1 billion versus $6.4 billion in Q2 FY14. The U.S. region saw product sales of $5.6 billion this quarter vis-à-vis $4.8 billion in Q2 FY14 and Europe's product sales amounted to $2 billion vis-à-vis $1.3 billion in the prior year period. Antiviral product sales of the Company increased to $7.6 billion for Q2 FY15, up from the $6.0 billion reported for Q2 FY14, primarily due to sales of Harvoni® (ledipasvir 90 mg/sofosbuvir 400 mg), which was approved in the U.S. and Europe in the fourth quarter of 2014.
- Corporate Highlights - During the quarter, the Company announced the signing of a definitive agreement to acquire EpiTherapeutics, which is a privately held Danish company. EpiTherapeutics generated a library of first-in-class, selective small molecule inhibitors of epigenetic regulation of gene transcription, in particular histone demethylases.
- Full Year Guidance - Gilead updated its full-year 2015 guidance which the Company had first provided in February and then updated in April. In the February guidance, the Company had expected net product sales to range between $26,000-$27,000 million which the Company then updated in April to range between $28,000-$29,000 million. In the latest update, the Company now expects sales to come in the range of $29,000-$30,000 million.
To find out how this influences our rating on Gilead Sciences Inc. read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=GILD
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